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BISA Reports 16% Drop In Bank Broker Production

By Staff Writer

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NU Online News Service, Oct. 14, 2004, 5:03 a.m. EDT

Bank brokers had a tougher time closing sales this summer.[@@]

The productivity of brokers in banks fell to $19,395 in fees and commissions in August, down 16% from the total for August 2003, according to the Bank Insurance and Securities Association, Wayne, Pa.

Productivity of licensed bankers fell to $1,613 in August, from $2,140 in August 2003.

Despite the drop in bank broker and licensed banker production, the BISA bank broker-dealer revenue index held steady at 132. BISA started the index with a benchmark level of 100 in 1998.